Hersha Hospitality Trust closed on the refinancing of a $500 million senior secured credit facility and the closing of the first tranche of six of the previously announced disposition of seven non-core Urban Select Service properties.
8×8, an integrated cloud communications platform provider, entered into a $250 million senior secured term loan facility in a transaction led by Francisco Partners. Wilmington Savings Fund Society will serve as administrative agent, with certain affiliates of Francisco Partners as lenders.
As part of a Chapter 11 filing, Ceneveo completed DIP financing with Bank of America as administrative agent and collateral agent for a $190 million ABL faciity and $100 in term loan facility agented by the Wilmington Savings Fund Society.
Dover Downs Gaming & Entertainment modified its credit agreement, extending the maturity date to September 30, 2018 and adjusting the maximum borrowing limit to $32.5 million.
As part of its financial restructuring, 21st Century Oncology Holdings will receive $75 million in debtor-in-possession financing from its senior lenders to reduce long-term net debt by more than $500 million.
Retailer rue21 filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Western District of Pennsylvania. The company has secured up to $125 million DIP financing from its existing ABL lenders with Bank of America as administrative agent.